Hims & Hers Health, Inc. - HIMS STOCK NEWS

Hims & Hers Health (NYSE: HIMS) has been named to Inc.'s 2024 Best in Business list in the Health Products category. The recognition celebrates companies that have achieved significant milestones and made substantial impacts on their industries and society.

The company, which focuses on providing access to high-quality, affordable personalized care, has demonstrated remarkable business growth and customer impact across its platform. Their core specialties include sexual health, dermatology, mental health, and weight loss. Hims & Hers leverages innovative solutions in technology, operations, and customer experience to improve healthcare accessibility and standards.

Inc.'s Best in Business list acknowledges companies from various sectors, including technology, healthcare, finance, and retail, that have achieved exceptional execution in areas such as customer expansion, product launches, and increased market share.

Hims & Hers Health (NYSE: HIMS) has expanded its weight loss offerings by introducing daily meal replacement bars and shakes, available through subscription starting at $110 per month. The new nutrition products, developed by registered dietitians, include protein-packed bars with 15g of protein and shakes containing 27-30g of protein, along with essential vitamins and minerals. The comprehensive weight management program includes personalized treatment plans, medication management, nutritional guidance, weekly meal plans, and 24/7 access to care teams through their platform.

Hims & Hers Health (NYSE: HIMS) announced two key leadership appointments to strengthen its quality and safety standards. Deb Autor, former FDA deputy commissioner, joins the board of directors, bringing over 30 years of pharmaceutical and regulatory experience. Janet Stevens, a pharmaceutical quality expert previously with Hillrom and Pfizer, joins as Global Head of Quality & Safety. Both appointments reinforce the company's commitment to clinical excellence and safety across its health and wellness platform.

Hims & Hers Health (NYSE: HIMS) has revealed significant challenges in accessing branded GLP-1 medications across the US, with nearly 80,000 individuals on their platform reporting access difficulties. The company has launched a GLP-1 Supply Tracker to gather data on medication accessibility issues. In just one week, almost 7,000 individuals reported inability to access medications, particularly those containing semaglutide. In Texas, which ranks among the top 10 states for obesity rates, nearly 5,000 Hims & Hers customers reported access problems. Research shows that about 30% of Weight Loss customers previously prescribed branded GLP-1s couldn't fill their prescriptions due to unavailability.

Hims & Hers Health (NYSE: HIMS) reported strong Q3 2024 results with revenue reaching $401.6 million, up 77% year-over-year. The company achieved net income of $75.6 million and Adjusted EBITDA of $51.1 million. Subscriber base grew 44% to 2.0 million users. Monthly online revenue per average subscriber increased 24% to $67, while AOV rose 48% to $147. The company raised its full-year 2024 guidance, expecting revenue between $1.460-1.465 billion and Adjusted EBITDA of $173-178 million. Gross margin was 79%, and the company generated $85.3 million in operating cash flow.

Hims & Hers Health (NYSE: HIMS) released a white paper showcasing positive outcomes from their weight loss program. According to the data, customers using oral medication kits lost an average of 7.5 pounds (3.6% of initial body weight) in their first month, while those using compounded GLP-1s lost 9.3 pounds (4.1%). The program shows strong customer satisfaction with 79% reporting met or exceeded expectations and only 13% canceling in the first month. The company's holistic approach includes medication management, nutrition guidance, digital tracking tools, and 24/7 care team access through their app.

Define Ventures, a major venture capital firm focusing on early-stage health tech companies, has appointed Bruce Broussard as venture partner. Broussard, former CEO and president of Humana, brings extensive experience in scaling companies and fostering innovation across various healthcare sectors. His role will involve guiding founders, shaping investment strategies, and strengthening partnerships with large healthcare organizations.

Broussard's decision to join Define Ventures is rooted in his belief in the firm's unique position to transform healthcare. His appointment follows that of Frank Williams, co-founder and former CEO of Evolent, who joined as venture partner earlier this year. Define Ventures, with $800 million in assets under management, partners with companies at seed, series A, and series B stages, including notable firms like Hims & Hers and Unite Us.

Hims & Hers Health, Inc. (NYSE: HIMS) has appointed Dr. Jessica Shepherd as the first Chief Medical Officer of Hers. With nearly 20 years of clinical experience in obstetrics, gynecology, and surgery, Dr. Shepherd will guide the clinical expertise for the Hers brand across sexual health, dermatology, weight loss, and mental health.

The appointment aims to address the women's health gap, as women spend 25% more of their lives in poor health than men. Hims & Hers seeks to provide accessible and affordable personalized care for women, with plans to expand into treatments for specific conditions like menopause and post-partum care.

Dr. Shepherd joins a team of medical leaders at Hims & Hers with over 100 years of combined experience across various health fields, forming the clinical backbone of the company.

Hims & Hers Health, Inc. (NYSE: HIMS), the leading health and wellness platform, has announced it will release its third quarter 2024 financial results on Monday, November 4, 2024, after the market closes. The company will host a live conference call at 5:00 p.m. ET on the same day to discuss the results.

Interested parties can access the conference call by dialing (888) 510-2630 for U.S. participants or (646) 960-0137 for international participants, using the conference ID 1704296. Additionally, a live audio webcast will be available on the company's investor relations website at https://investors.hims.com, where it will remain archived for one year.